Amazon Q1 Ad Revenue Leaps 24% to $11.8 Billion, Lifted by Prime Video’s Addition of Commercials
variety.comTodd Spangler NY Digital Editor Amazon raked in $11.82 billion in ad revenue for the first quarter of 2024, topping analyst expectations, fueled by the ecommerce giant’s move to serve advertising by default in Prime Video in multiple markets.
Advertising sales for the quarter were up 24% year over year and marked a new Q1 record. The revenue beat Wall Street expectations for the quarter of $11.7 billion, according to StreetAccount. “Our advertising efforts continue to benefit from the growth of our Stores and Prime Video businesses,” CEO Andy Jassy said in announcing earnings.
In his annual letter to Amazon shareholders this month, Jassy announced that Prime Video has more than 200 million monthly viewers and touted the service’s addition of advertising starting Jan.
29. In the U.S. alone, the company has told marketers that Prime Video reached an estimated 115 million monthly viewers in the U.S.
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